Forbes names the most valuable team in Indian T20 League
Lucknow-Gujarat-Kolkata (image source : BCCI/IPL)
India’s win in the first edition of the T20 World Cup prompted the Board of Control for Cricket in India (BCCI) to start the Indian T20 League. The tournament started in 2008 with eight teams. The concept became an immediate hit as it got the fand glued to the intense action. It provided a great opportunity for the different brands and sponsors to endorse their products via the biggest superstars of the cricketing world.
The Indian T20 League 2022 introduced two new franchises in Gujarat and Lucknow and went bigger. The ownership of the two new franchises was auctioned off. Gujarat was bought by the CVC Capital Partners for INR 5625 Cr and Lucknow was sold for INR 7090 Cr.
As per recent reports published by Forbes, the growth of the ITL franchises has outpaced the NBA and NFL teams. In 2009 the average valuation of the ITL teams was $67 million while it jumped up to $1.04 billion with 10 teams after 13 years. The growth in the valuation of the teams in the cash-reach league has been 24%. While the growth for NBA teams has been 16% and for NFL teams it has been 10%.
While speaking on the amazing growth of the ITL teams, Ajimon Francis, managing director at Brand Finance India said that the tournament certainly enjoys more viewership than other T20 leagues around the world. He praised the founders of the league for the concept and also spoke highly of BCCI’s governance to keep the tournament on the run even during the covid crisis.
“The ITL is the most prominent cricket league in the world in terms of attracting sponsors and media rights. A lot of credit goes to the founders of ITL, who took ideas from the NBA and European soccer leagues, and good governance by the BCCI with regards to clear visibility of team funding and ensuring the tournament continued during COVID,”- said Ajimon Francis as quoted from Sports Tiger.
The report has pointed out two reasons for the amazing growth of ITL franchises. The first point is a large amount of viewing audience with around 400 million watching the matches on the TV sets and another 260 million streaming it online. The second reason is the revenue model of the tournament. It allows every franchisee to end with profits after each season.
The reports also ranked the teams in the Indian T20 League as of 2022 as per their valuation.
- Mumbai – INR 9,962 Cr
- Chennai- INR 8,811 Cr
- Kolkata- INR 8,428 Cr
- Lucknow- INR 8,236 Cr
- Delhi- INR 7,930 Cr
- Bangalore- INR 7,853 Cr
- Rajasthan- 7,662 Cr
- Hyderabad- INR 7,432 Cr
- Punjab- INR 7,087 Cr
- Gujarat- INR 6,512 Cr
